2011 (2) TMI 419

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....1,768/- along with interest relating to the period 01.08.04 to 31.03.06 and appropriated the amount paid in March, 2006 and October, 2006. He imposed penalty under Section 76 and a penalty of Rs. 1000 under Section 77 and a penalty of Rs. 2,61,768/- under Section 78 of the Finance Act, 1994 (However, he has not given any option to pay concessional penalty in terms of proviso to Section 78). The pa....

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.... the Commissioner (A), it is implied that there is a prayer for restoration of penalties imposed under Section 76 & 77. 3.2 He also relies on the instructions of the Board in Circular No. 137/167/06-CX.4 dated 3.10.07, which contains guidelines on implementation of Section 73 (1) A of the Finance Act, 1994. 4. Ld. CA, strongly supports the order of the Commissioner (A). He submits that when pena....

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....lties have been imposed under various sections including Section 78. Proviso to Section 78 clearly provides for payment of concessional penalty if the duty and interest "determined" by the authorities are paid within 30 days. Obviously, the determination of the liability is through issue of speaking order and the original authority has passed the order on 08.06.07. However, it is noticed that the ....